Talkington Electronics issues a $373,000, 6%, 10-year mortgage note on December 31, 2016. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $50,679. Payments are due on December 31.

Prepare an installment payments schedule for the first 4 years.

Annual Interest Period	Cash Payment	Interest Expense	Reduction of Principle	Principle Balance
Issue Date	X	X	X
1
2
3
4